Fobi AI Announces Partial Revocation Order and Non-Brokered Private Placement

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VANCOUVER, BC, Dec. 12, 2025 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI:TSXV) (FOBIF: Pink) (the "Company" or "Fobi"), is pleased to announce that the British Columbia Securities Commission has granted a partial revocation order dated December 12, 2025 (the “Partial Revocation Order”) to the failure-to-file cease trade order issued in respect of the Company on November 1, 2024 (the “CTO”) to permit the Company to complete a non-brokered private placement financing (the “Offering”) of up to 30,000,000 units of the Company (“Units”) at a price per Unit of C$0.05 (the “Offering Price”) for aggregate gross proceeds of up to C$1,500,000. Each Unit shall consist of one (1) Common Share of the Company (each a “Share”) and one (1) Share purchase warrant (each, a “Warrant”). Each Warrant shall be exercisable to acquire one (1) additional Share at an exercise price of C$0.10 until thirty-six (36) months from the date of issuance of the Warrants. The Shares and Warrants comprising the Units as well as the Shares issuable upon exercise of the Warrants will be subject to a four-month and one day hold period in accordance with the policies of the TSX Venture Exchange (“TSXV”) and applicable securities legislation, as well as the provisions of the CTO.

The purpose of the Offering is intended to raise sufficient capital to prepare and file all outstanding continuous disclosure documents, and subsequently apply for and obtain a full revocation order in respect of the CTO. The proceeds of the Offering will namely be applied towards the following: (i) accounting, audit and legal fees associated with the preparation and filing of the relevant continuous disclosure documents; (ii) filing fees associated with obtaining the Partial Revocation Order and the full revocation order; (iii) key employee salaries; (iv) operational expenses; and (v) finder’s fees in respect of the Offering.

The Company may pay to any applicable finder a cash commission of up to 7% of the gross proceeds of the Offering and may issue broker warrants (“Broker Warrants”) of up to 7% of the Units sold under the Offering. Each Broker Warrant shall be exercisable to acquire one Share at the Offering Price until thirty-six (36) months from the date of issuance of the Broker Warrants.

The closing of the Offering is expected to occur on or about January 12, 2026, or such other date or dates as the Company may determine, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including approval from the TSXV.